The paper "Bonding and Bridging" is a wonderful example of an assignment on management. Innovation refers to the act of creating novel ideas and operations that aim at raising production levels from the existing circles to new levels of production that ensures improved effectiveness of an organization. Innovation is composed of five aspects which include improvement of the existing good, the raising of new production methods, exploring and bringing up new markets, taking over raw materials, and reorganizing an industry from its former set up (Schumpeter 2000). Bonding and bridging are two aspects of networking of production organization enabling the innovation levels within that very organization.
Bonding involves interpersonal relations among close friends such as in an organization, in social groups or social media while bridging involves a movement to areas of little presence and establishing the presence of products. Bridging is more of conquest to areas of less concentration and familiarizing or creating new relations (Nee & Ingram 1998). Other than innovation, bridging, and bonding can also be used in acquiring new resources either in areas of familiarity or areas of unfamiliarity (Lee 2009).
This discussion endeavors to indicate how bonding and bridging of network ties are of significance in both innovation and acquisition of new resources. Bonding and bridging of network ties affect innovation in different ways. The effects may be both positive and negative. Bonding social ties are a small subset of an individual total social network, this is the hub network. For most of the individuals, core ties are the principal source of interpersonal contact (White & Johansen 2005). These are people’ s core close friends, and as such, are a source of consideration as well as discussion of topics that vary from politics to the incomprehensible.
Core confidants are likely to be those who are particularly vital in the life of an individual, as well as those people a person can discuss important matters with such as politics and business issues. The modern evolution of the analysis of the socio-institutional determinants of innovation gives fertile ground for the progression of appropriate working definitions of social capital as well as for the conceptualization of its associates with innovative performance. Innovation is a social procedure entrenched in local surrounding and it is analytically affected by the strength as well as the greatness of social life Bridging ties are the network members who give access to unique resources as well as information.
Bridging ties may entail some core network members, but this is possible to come from weak ties outside of the core (Cross & Cummings 2004). For instance, an entrepreneur can be termed as an innovator who executes changes within markets by performing new combinations. The activities of an entrepreneurial entail discovering opportunities in the economic system.
Entrepreneurship involves the exploitation of chances which is normally associated with the direction or blending of productive inputs. They are associated with creative as well as innovative actions and bears risk while following opportunities. Entrepreneurs can as well take a managerial role in their activities, but the regular management of a continuous function is not regarded as entrepreneurial function. People in the organization can be regarded as entrepreneurs since they follow the exploitation of chances.
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